Auto Retail Sales Up 11.21% in November, Driven by Two-Wheelers: FADA
Auto retail sales in India grew 11.21% in November 2024, led by a 15.8% rise in two-wheelers, according to FADA. Passenger vehicle sales dropped 13.72%, with challenges like low inventory and limited launches. Explore market insights and future trends.
India's auto retail sales across categories recorded a strong 11.21% growth in November 2024, reaching 32,08,719 units, compared to 28,85,317 units in November 2023. This growth was largely driven by a 15.8% rise in two-wheeler sales, the Federation of Automobile Dealers Associations (FADA) reported.
Two-Wheeler Sales Dominate Growth
The two-wheeler segment emerged as the star performer in November 2024:
- Sales increased to 26,15,953 units, compared to 22,58,970 units in November 2023.
- This 15.8% growth was attributed to a festive spillover from October and steady rural demand.
Passenger Vehicle Sales Dip
While two-wheelers thrived, passenger vehicle (PV) retail sales declined:
- November PV sales fell 13.72% to 3,21,943 units, down from 3,73,140 units in November 2023.
- Key challenges included:
- Weak market sentiment.
- Limited new product launches.
- Festive demand shifting to October.
“Although rural markets provided some support, they failed to significantly improve the overall sentiment,” said FADA President C S Vigneshwar.
Commercial Vehicle Sales Decline
The commercial vehicle (CV) segment faced a 6.08% drop in sales, with 81,967 units sold in November 2024 compared to 87,272 units in November 2023.
Factors contributing to this decline included:
- A slowdown in coal and cement industries.
- Weak market sentiment.
- Limited financier support.
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